Blockchain-Based Solutions for the Supply Chain

Supply chain with blockchain

The benefits of the blockchain are numerous. It is traceable, verifiable and immutable. All of these things are also incredibly useful in one particular industry – supply chain and distribution.

The blockchain allows for much more thorough, traceable and secure record across the whole supply chain and distribution network. This has the possibility to not only save money but also increase safety and efficiency of the network. Customers also benefit from the added transparency it provides. It is understandable then that there are numerous examples of projects seeking to use blockchain technology to revolutionize the industry.

OriginTrail

OriginTrail is a blockchain-based global data exchange protocol that works to connect all stakeholders in the supply chain. The data exchange protocol builds a seamless connection between businesses to ensure all information is connected and spread efficiently, securely and reliably.

The project was created to solve the problem that people are not sure on the origin or authenticity of the products they buy. There were limited resources available to check this information with a more limited scope. OriginTrail was created to provide this service securely using the established GS1 barcode standards alongside blockchain.

The Team

The founders of OriginTrail all hold relevant history in the supply chain management and technology space. These experiences are global, providing them insight to the supply chain in different regions of the world. They each show a keen interest in the blockchain and its potential applications in the supply chain which brought about the project.

There are nine advisors in total for the project. These advisors support the founders, coming from a range of industries relevant to the supply chain process and blockchain technology. Each of them has their own varied background and solid experience, enabling them to provide valuable insight into the different ways the technology can be applied.

The platform is fairly active on social media to provide the latest updates and receive feedback from the community. The project has also won several awards and recognitions.

Partnerships

Securing partnerships can significantly strengthen a project and build legitimacy. OriginTrail has partnered with several entities to better their service. Most notably, they have partnered with GS1 to ensure the globally held standard is maintained to ensure consistency and compatibility of data.

EVRYTHNG is another key partner. With the help of EVRYTHNG’s IoT technology and real-time data management capabilities, OriginTrail can bolster its traceability and verifiable blockchain solution.

They are also partnered with several logistic companies and food producers to strengthen their network and work closely. These include Source Certain, Zelene Doline, BTC Logistic Center, and TAGIT Smart.

TRAC Tokens

TRAC, a tokenization of OriginTrail’s data exchange and supply chain processing functionality, is a utility token based on the ER20 standard. The Trace token is a key element of their ecosystem. It enables users to take part in data operations on the ODN (OriginTrail Decentralized Network).

Its primary purpose is as a medium of exchange for transactions on the ODN. It incentivizes nodes in the peer to peer network that run the OriginTrail software to perform the system functionalities, compensation for the associated costs. Anyone can run these nodes to help with scalability, though now the system is in the testing phase. With the provided instructions and resources, node runners can learn and prepare for the launch of the mainnet in Q1 2019.

The first stage of the mainnet release begins with Vostok, placing TRAC tokens into real market conditions before the fully implemented launch of the mainnet culminates in the Freedom stage.

OriginTrail has a market cap of $6,673,541 USD.

Website: https://origintrail.io/

Whitepaper: https://origintrail.io/storage/documents/OriginTrail-White-Paper.pdf

Telegram Community: https://t.me/origintrail

TE-Food

TE-Food is a blockchain-based decentralized produce and livestock tracing ecosystem. The purpose of the ecosystem is to provide verifiable and traceable supply chain information for both businesses and consumers in the food vertical. It begins tracking from the farm all the way to the table, recording the quality, background, and distribution of the food.

Their ecosystem focuses solely on the food industry, allowing them to focus and tailor the project specifically for their needs. Seeing the range of issues present in the industry including compliance with import regulations, mitigation of the risk of outbreaks, and making the supply chain more transparent, TE-Food saw the opportunity to improve the process for all involved.

The Team

TE-Food is a joint project of a Hungarian and Vietnamese company. The leaders of the company have over 20 years in business and IT, a promising sign for the project. The 30 strong team consists of experts from the food industry, blockchain and software development, and infrastructure engineers. It is very balanced and provides different perspectives from relevant industries. Along with news coverage and an established, working product, the team appears very competent and capable of building the project further as planned.

Partnerships

TE-Food have been able to partner with some key players. For instance, they have partnered with Zalo, one of the most popular messaging services in Vietnam. Scanning of QR codes can be made through the app, meaning the company has access to a massive user base already, so users will not need to download a separate app to view the history of a product.

They have also partnered with GS1 to ensure they maintain and comply with GS1 standards of business communications. This allows TE-Food to be compatible with the global standard of barcodes.

Unisto is also partnered with TE-Food. Unisto manufacture high-quality security seals that can be used in the supply chain.

As far as the cryptosphere goes, Tomochain has also partnered with this project. This partnership will explore the possibility of jointly building the ecosystem for TE-Food on Tomochain infrastructure in the long term.

They have also been able to secure notable clients such as BigC, Aeon and Vinmart.

TFD Tokens

TFD is a utility token based on the ER20 standard. It is used as a license to access the decentralized traceability ledger. As such, users are required to hold at least one TFD to gain access to the system. The tokens can be divided into sub-licenses or ‘utilization units,’ which dictate the transaction potential. Each market will have a different transaction potential per sub-license – the limit to the number of times users can trigger a transaction.

TFD are obtained either by trading on exchanges such as KuCoin or through rewards. It is provided to customers as a reward for using TE-Food services and can be used to purchase more detailed insights on the platform and other services such as food quality checking. It can be exchanged between businesses in the supply chain as well as being bought and sold on the TFD market.

Their plan for the future is to expand into several new countries – mostly emerging markets where the service will likely make the most significant impact. TE-Food launched their blockchain solution, tokenizing their operations in early 2018.

The mainnet is now live, named ‘The Foodchain’. Initially, masternodes will be onboarded to form the backbone of the mainnet before the migration of TE-Food’s established operations takes place.

TE-Food has a market cap of $4,445,698 USD.

Website: https://www.te-food.com/

Telegram Community: https://t.me/tefood

VeChain

VeChain is a global enterprise-level public blockchain platform that focuses on building an ecosystem that facilitates the flow of information and collaboration between multiple businesses. The project aims to provide a broad range of use-cases using the blockchain to improve current services that are available.

VeChain aimed to improve and modernize the supply chain across multiple industries. They provide a trust-free, distributed business ecosystem that enables the transparent flow of information, efficient collaboration, and high-speed transfers of value.

The Team

The core team at VeChain all hail from a background of successful, high-profile companies including PwC, Deloitte, and HP. Their experience with these global enterprises will have equipped them with a good understanding of what these businesses will look for in a blockchain-based communication and collaboration tool. As well as their experience, each member has shown a passionate interest in blockchain technology.

A board of advisors also backs the team. The project sought out advisors from a diverse range of backgrounds to provide high-quality insights and advice for the project. These advisors are experts in their area and so are well placed to help guide them to success.

The team and project remain active across multiple social media channels, providing updates and information to users.

Partnerships

VeChain has been able to secure some key partnerships. With a goal to build a global business ecosystem, the project has made sure to find innovative companies that can significantly benefit from VeChain.

VeChain has partnered with Shanghai Unicom, a major telecommunications company. This synergistic relationship allows Vechain to access and make use of China Unicom’s cloud network and knowledge, while China Unicom is provided with access to their blockchain ecosystem.

DNV GL is another key partner. With their experience in supply chain management and business assurance, DNV GL is well placed to utilize VeChain’s blockchain solution to increase the transparency of the supply chain process across multiple stakeholders, as well as track and verify products at every step of the journey.

VeChain were able to partner with Shanghai Gas and ENN, two leading gas and energy companies that are part of China’s commitment for clean energy adoption. This partnership allows the project to develop the blockchain-enabled solution for LNG management. In the scope of the partnership is quality assurance process, with key logistic processes being stored on chain for the establishment of credible industry standards.

VET Tokens

VET tokens are VeChains own cryptocurrency, used as smart payments for transactions on the platform and for authorization to occupy and use the VeChainThor blockchain. With the goal to build up their ecosystem, VET tokens are one way to tie all the different elements together.

Following the successful alpha stages, the VeChainThor mainnet went live in June 2018 with further expansion of the ecosystem planned for the future.

VeChain has a market cap of $359,469,354 USD.

Website: https://www.vechain.com/

Whitepaper: https://cdn.vechain.com/vechainthor_development_plan_and_whitepaper_en_v1.0.pdf

Telegram Community:  https://t.me/vechain_official_english

Waltonchain

Waltonchain is a business ecosystem that looks to facilitate data sharing and information transparency. To achieve this, Waltonchain combines the strengths of blockchain and IoT technologies for a well connected, secure and transparent overview of business operations.

Seeing the potential of blockchain and IoT technologies working together, Waltonchain sought to remove the bottleneck in the supply chain by incorporating physical assets automatically into the blockchain.

The Team

Waltonchain’s team are very experienced in their fields. This experience is a great asset to the team. There is a mixture of nationalities that offer a wide range of knowledge of different markets. Their backgrounds range from IoT technologies, the blockchain, and engineering which is very beneficial for the project and will help to shape it as it grows.

The team of 18 members, self-described as pioneers, are backed by a group of advisors. These advisors are themselves a group of experienced individuals from varied backgrounds including legal, economics and engineering. They provide Waltonchain with guidance and insight into a range of industries and help them to plan their future roadmap and partnerships.

Partnerships

Strategic partnerships have greatly expanded Waltonchain’s ecosystem and allowed for a number of different use-cases for their technology to come to fruition. Other partnerships have led to improvements to Waltonchain’s products and services.

NHTech is a manufacturing enterprise of large-scale industrial equipment, and so are in a great position to help bolster production of RFID tags and other hardware used in the Waltonchain ecosystem.

NIDS Sensor Technology is another important partner. Their knowledge of IoT and sensor technology has obvious benefits for Waltonchain’s ecosystem. Through this synergy, both companies can develop their products further and combine blockchain and IoT.

WTC Token

WaltonChain’s token, Waltoncoin, has several uses. One use is the voting and governance system. This system is necessary due to the decentralization of the platform. It allows the safe and anonymized voting for all sub-chains.

Another use if for dividend interest, incentivizing users to hold WTC. Otherwise, there is a credit and mortgage system that utilizes the tokens, a decentralized exchange, and the issuance of sub-chains, amongst other uses.

Waltonchain launched their mainnet in March 2018.

Waltonchain has a market cap of $74,394,992 USD.

Website: https://www.waltonchain.org/

Whitepaper: https://www.waltonchain.org/#white_paper_cont

Telegram Community: https://t.me/waltonchain_en

Ambrosus

The goal for Ambrosus is to modernize the supply chain and distribution industry using new technologies such as blockchain. They saw vulnerabilities in the supply chain and saw an opportunity to build an ecosystem that addresses these issues. With a primary focus on food and medicine, they hope to reduce the number of unnecessary deaths related to counterfeit, tampered, and mishandled products. This is done by tracking the products throughout the supply chain to ensure that quality and compliance are maintained.

Vulnerabilities are of particular interest for Ambrosus, who adopt technologies such as sensor systems, blockchain protocols, and secure data storage to protect products throughout the supply chain process.

The Team

There is a strong team behind the project. The CEO has a background in the UN, while the CTO has previously worked with industry leaders such as Nestle. This is a theme seen across all members, and so the team appears to be very promising.

There are notable advisors following the project. Parity, itself a blockchain-focused company, are providing technical advice. Their blockchain development experience makes them well qualified to help direct the use of blockchain in the project. There are also advisors in the food, sensor and quality control spaces to ensure that the project is able to meet the needs of the different industries they serve thoroughly.

Partnerships

Ambrosus boasts a range of partnerships for their project. A variety of different partners and support from different industries can be seen, including global supply chains and technology partners. They have applied their project to different use-cases.

Premium goods is an example of Ambrosus applying their blockchain ecosystem to a global supply chain. Premium goods imports their products from around the world and so makes use of blockchain along with physical tracking tools such as QR codes to record their origin and quality.

Trek therapeutics another partnership where blockchain-based supply chain technology can help to track and prevent bad quality or fake products. Medicine can be particularly dangerous if anything is falsely named or mishandled. That is why, through the use of high-tech sensors with smart contracts, it is possible to prevent unsafe products from reaching the end users.

AMB Token

Ambrosus’ token, named Amber (AMB), is used to transfer value and bind data from the supply chain to the product. It is the foundation of their ecosystem as it stores the data of the associated product over its lifetime while also acting as payment to the nodes in the network.

Ambrosus released their mainnet, AMB-NET 1.0, in August 2018, bringing about a more scalable, transparent, and efficient ecosystem.

Ambrosus has a market cap of $15,899,862 USD.

Website: https://ambrosus.com

Whitepaper: https://ambrosus.com/assets/en/Ambrosus-White-Paper.pdf

Telegram Community: https://t.me/ambrosuschat

A Growing Market

There is a growing market for blockchain-based distribution chain technology. There are benefits for each of the stakeholders in the supply chain process. For the end consumer, it is possible to check the authenticity of a product and whether it has been handled properly across the supply chain. For the seller, the amount of spoilage and contamination is significantly reduced, saving money and upholding their reputation. For these reasons, adopting a blockchain solution for the supply chain is worth the cost of entry.

While each of these projects has similar ideas, they execute them differently. Similarly, each has its own token that is utilized differently to fit with their vision. Overall, they each have a clear goal and have made promising advancements and partnerships that help them on their way.